Ally Financial (NYSE:ALLY) Price Target Raised to $34.00

Ally Financial (NYSE:ALLY) had its price objective raised by Wells Fargo & Company from $32.00 to $34.00 in a research note issued to investors on Thursday morning,Benzinga reports. They currently have an underweight rating on the financial services provider’s stock.

Other equities research analysts have also issued research reports about the company. Barclays increased their target price on Ally Financial from $36.00 to $44.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. Wolfe Research downgraded shares of Ally Financial from an “outperform” rating to a “peer perform” rating in a research report on Thursday, December 5th. Truist Financial started coverage on shares of Ally Financial in a research report on Tuesday, January 7th. They set a “buy” rating and a $42.00 target price on the stock. Keefe, Bruyette & Woods raised their price target on shares of Ally Financial from $44.00 to $56.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Finally, Evercore ISI cut their price objective on shares of Ally Financial from $47.00 to $38.00 and set an “in-line” rating on the stock in a report on Monday, October 7th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Ally Financial currently has an average rating of “Hold” and a consensus price target of $43.47.

Ally Financial Trading Down 2.7 %

NYSE ALLY opened at $39.03 on Thursday. The firm has a market capitalization of $11.89 billion, a price-to-earnings ratio of 15.01, a PEG ratio of 0.42 and a beta of 1.44. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.92 and a current ratio of 0.93. Ally Financial has a one year low of $31.95 and a one year high of $45.46. The company’s 50 day moving average price is $37.06 and its 200 day moving average price is $37.94.

Ally Financial (NYSE:ALLY) last posted its earnings results on Wednesday, January 22nd. The financial services provider reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.21. Ally Financial had a net margin of 11.29% and a return on equity of 9.31%. The business had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2,021,808.41 billion. During the same quarter in the previous year, the business posted $0.45 EPS. The business’s quarterly revenue was up 3.6% on a year-over-year basis. On average, sell-side analysts predict that Ally Financial will post 3.91 EPS for the current year.

Ally Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, January 31st. This represents a $1.20 annualized dividend and a yield of 3.07%. Ally Financial’s payout ratio is 46.15%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of ALLY. abrdn plc boosted its stake in Ally Financial by 0.5% in the fourth quarter. abrdn plc now owns 269,964 shares of the financial services provider’s stock valued at $9,748,000 after acquiring an additional 1,454 shares during the period. Asset Management Advisors LLC boosted its position in Ally Financial by 1.5% during the 4th quarter. Asset Management Advisors LLC now owns 167,080 shares of the financial services provider’s stock valued at $6,017,000 after purchasing an additional 2,520 shares during the period. Tokio Marine Asset Management Co. Ltd. grew its stake in Ally Financial by 22.9% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 13,028 shares of the financial services provider’s stock worth $469,000 after buying an additional 2,426 shares during the last quarter. GFS Advisors LLC acquired a new stake in Ally Financial in the fourth quarter worth $238,000. Finally, KBC Group NV lifted its stake in Ally Financial by 133.3% in the fourth quarter. KBC Group NV now owns 582,042 shares of the financial services provider’s stock valued at $20,960,000 after buying an additional 332,538 shares during the last quarter. 88.76% of the stock is owned by institutional investors and hedge funds.

Ally Financial Company Profile

Ally Financial Inc, a digital financial-services company, provides various digital financial products and services in the United States, Canada, and Bermuda. The company operates through Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations segments.